Marshall Auerback, a portfolio analyst, hedge fund manager, and Roosevelt Institute fellow argues that: “Calling the Troubled Asset Relief Program a success is like claiming your wastrel son is getting his life together because he’s settled his gambling debts, while omitting that you are paying for his apartment, got him an overpaid job at your company, and handing him $100 bills more than occasionally.”

“A recent white paper by Welton Associates takes a look at the phenomenon of tail risk in the post-2008 world and concludes that not only is it bad, it’s actually likely to cause five times more damage than one might think…”

“The BRIC countries are old news. Now every one and their brother is looking for another way to slice and dice the emerging markets. There is the Next 11, CIVETS and even MAVINS. At this point we are not even talking about the frontier markets. The question is whether all this specialization makes sense.”